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DocuSign Envelope ID:2F13EA9D-6D15-4887-A37B-EO42FOC1B8A4 <br /> http://1789venturelab.com/ <br /> 1789management(cDgmail.com <br /> ➢ A mentor approved by the Subcommittee <br /> ELIGIBLE USES OF GRANT PROCEEDS <br /> • Working capital or operational funds to be used for a specific purpose; to include expenses <br /> such as marketing, advertising and inventory etc. <br /> • Purchase of equipment, or machinery. <br /> • Expansion of business services or products. <br /> • Work force expansion; to include employee salary(at or above the Orange County living wage) <br /> • Tenant up-fit or leasehold improvements. <br /> GRANT PROCEEDS SHALL NOT BE USED FOR THE FOLLOWING <br /> • Towards the cost of any tax implications of receiving the grant funds <br /> • Re-granting funds and/or utilizing funds to cover a product or service that would be donated by <br /> the business <br /> • Paying off or reducing existing bank debt or investor loans <br /> • Purchase of equipment or improvement of real estate, which are used or to be used for <br /> personal use <br /> • Rent <br /> • Political activities <br /> • Owner salary <br /> • Speculative ventures (Examples: cryptocurrency purchases, commodity futures). <br /> • Lending or investment <br /> • Real property held for sale or investment <br /> • Pyramid sales - distribution plan businesses <br /> • Foreign controlled businesses <br /> • Private membership clubs <br /> COMPLIANCE WITH APPLICABLE REGULATIONS <br /> In all cases, grants made from this program must be consistent and in accordance with the following: <br /> • All state and local regulations governing the applicant's business. <br /> • Terms and conditions established by the Subcommittee for each particular applicant. <br /> • Policies established by the Board of County Commissioners dealing with the Grant Program. <br /> • Ventures that implement planning and economic development policies which create a balanced, <br /> dynamic local economy that promotes diversity, sustainable growth, and enhanced revenue while <br /> embracing community values will also be given priority. <br /> AMOUNT OF GRANTS <br /> Small Grant - Minimum Up to $1,500.00 <br /> Grant applications for$1,500.00 or less will have a separate and simplified application. <br /> Use of Funds- Priority will be given to ventures demonstrating a clear need for grant funds to grow their <br /> business, hire additional staff, grow the commercial tax base, and/or create a significant social and <br /> economic impact in the County. <br /> Large Grant— Maximum Up to $10,000.00 <br /> Grant applications for$1,500.01 or more will require additional financial information and documentation <br /> of how grant proceeds will be used. Should market conditions change, or in the event of an applicant <br /> Revised 4/22 <br />